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How 360-degree financial advice can help you

Depending on your stage of life, you might think you’re tracking along just fine. You have a few investments, you’re in KiwiSaver, you might be paying down your mortgage or on the way to saving a deposit for a first home. So, why would you need any extra help?

The reality is that working with a financial adviser (like us!) can still make a big difference to your overall financial wellbeing. Here are just a few reasons why financial advisers’ clients tend to have better outcomes over their financial lifetimes.

Clear-headed view over your finances

One of the most effective ways a financial adviser can make a difference to a person’s life is by stopping them from making impulse decisions that they may regret down the line.

Research by Russell Investments has shown that using an adviser can add more than 5% in client returns. That is because advisers can hold clients’ hands through market wobbles. Instead of shifting out of risky assets at the first sign of a downturn, and locking in those losses, advisers can remind clients that they have a long-term plan for a reason.

Building an emergency fund

As financial advisers, we encourage clients to build financial resilience by putting money into an emergency savings account (whenever possible). Having a rainy-day fund means creating a buffer against unforeseen circumstances. In many cases, it can make the difference between getting into expensive debt to deal with a short-term blip and riding out a financial storm unscathed.

This was highlighted by recent Financial Services Council research, which showed that advisers telling clients to have an amount equal to several months’ income put aside was a good way to help reduce their stress and anxiety. It also showed advisers helped their client’s mental health because they were available to be called upon as someone who had seen market disruption before and could guide clients on what to expect and how to handle it.

Informed decisions

While you may be new to investing or financial planning, we have spent years – and sometimes decades – immersed in it. We can apply that experience to your situation to help you determine the right solution for your needs.

While an individual investor may be driven by emotion, or influenced by the opinions and experiences of those close to them, we can take a wider look at the landscape and help you make an informed decision.

Relationship

Financial advice is all about building a long-term relationship.

We can get to know you and how you respond to different situations, as well as your needs and goals. That puts us in a good position to help you make the right decision for your individual circumstances. We can also be proactive and help you work out what might need your attention over time.

Like to talk?

Quality financial advice can be life-changing. Please don’t hesitate to contact us if you’d like to discuss your circumstances. We look forward to answering your questions.

 

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current development or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

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